U.S. fintech firm Blackhawk to go private in $3.5 billion deal

(Reuters) - U.S. financial technology firm Blackhawk Network Holdings Inc (HAWK.O) said on Tuesday it would be acquired by private equity firm Silver Lake and New York-based hedge fund P2 Capital Partners in an all-cash deal worth about $3.5 billion including debt.

The offer of $45.25 per Blackhawk share represents a 24 percent premium to the stock’s Friday closing price.

Shares of Blackhawk rose 23 percent to $44.90 in premarket trading.

Pleasanton, California-based Blackhawk offers a range of services including gift cards and prepaid debit cards by partnering with companies such as PayPal (PYPL.O), American Express (AXP.N) and Western Union (WU.N).